Retail industry

UK: COLT POSTS WIDER LOSS

Article Abstract:

Colt Telecom posted wider third quarter 2000 losses compared with the year earlier despite reporting healthy demand for high-speed data services. The UK-based local exchange carrier posted profits before taxation, interest, amortization and depreciation up by 50% to GBu 2.4mn. Colt, which is valued at GBu 14mn and has networks across two dozen European cities, is not expected to become profitable until 2004 or thereabouts. Table: Colt Telecom Figures in GBu mn Current Previous/Change Pre-tax profits (33.4) (21.9)

UK: STOVES POSTS LOWER PRE-TAX PROFITS

Article Abstract:

Stoves posted lower pre-tax profits for the 12 months to May 2000 compared with the year earlier due to competition from cheap continental European imports and declining prices. The UK-based cooker manufacturer, which posted record sales, said that profits were hit by the pound's strength, leading to the final dividend being axed. Table: Stoves Figures in GB[pound] mn Current Previous/Change Sales 102 - Pre-tax profits 0.05 0.86 -94.18%